Car insurance rates have significantly increased, with Americans now paying 22.2% more compared to the previous year. This marks the highest rate hike since 1976, with a 2.7% increase just in February.
Drivers are increasingly paying sticker price or more for a new car. Then there are sky-high insurance rates and mortgage-level car payments. Vox’s Marin Cogan explains how we got here.
This episode was produced by Victoria Chamberlin, edited by Matt Collette, fact-checked by Laura Bullard, engineered by David Herman, and hosted by Noel King.
Transcript at vox.com/todayexplained
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